There were 286 new listings today and 157 sales, for a sell/list of 54.90%. Of the sales 24, or 15.29%, went over list. 8 of those were on the Westside. 4 were in East Van, 2 in Richmond, 2 in New West, 3 in North Van, 1 in Maple Ridge, 2 in Coquitlam, 1 in Burnaby and 1 in the Fraser Valley.
Average list price of the sales was $550,404; average sales price was $539,735, a difference of $10,670, meaning the average sale went for 1.53% under list price. 20 properties went for list price. One property went for 16%($388,000) under list while the highest over list was 13% ($157,000) over.
There were 10 million dollar plus properties sold, with three over $2 million. Average days on market to sale was 31.
There were 67 price changes, of which 9, or 13.43%, were increases. The average original list price of price changes was $615.975; the average new price was $602,378, a difference of $13,598, meaning the average price change was -2.28%. Average days on market to price change was 49. Is it just me, or are these asking prices climbing?
Inventory in my target area rose to 11,275, while over 90s also to 1,851, a percentage increase to 16.42%.
0.51% of all active listings in my target area had their prices reduced today.
For those asking recently about how long it takes to get a listing processed these days, take a look at a recent message to members:
“Due to the volume of listings being received the MLS Department will be entering listings daily as late as 7 pm until further notice. Please resist the urge to call looking for your listing until 2 full business days have passed. Higher call volumes result in less listings being processed. Please note that in order to serve our members equally, all listings received by the Board will be entered in the order tht they are received regardless of how they are delivered to the Board. Thank you for your patience during this very busy time”.
I think its safe to assume a few more high listing days.